Xiaomi has launched a teaser site for the July 22nd reveal of their latest flagship smartphone, the Mi 4.
The Mi 4 is said to have a metal body and a 5.2" display. Like previous Xiaomi flagships, a $300~$350 USD price tag is expected. The Mi 4 should also offer 4G LTE, something the Mi 3 was missing (this was due to the availability on the Chinese market).
SoC? I would assume the Snapdragon 805 or NVIDIA's Tegra K1. There is also the possibility Xiaomi will give the option of either of them, this was the case with the Mi 3 which launched with Tegra 4 or Snapdragon 800 AB.
The Xiaomi Mi Pad which has just launched in China for $240 USD is using NVIDIA's Tegra K1.
Supposed leaked images of the Mi 4's body and this bezel design (as always, take with a grain of salt):